by Calculated Risk on 9/12/2024 04:30:00 PM

What this means: On a weekly basis, Realtor.com reports the year-over-year change in active inventory and new listings. On a monthly basis, they report total inventory. For August, Realtor.com reported inventory was up 5.8% YoY, but still down 26.4% compared to the 2017 to 2019 same month levels. 

 Now - on a weekly basis - inventory is up 33.4% YoY.

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report: Weekly Housing Trends View—Data for Week Ending Sept. 7, 2024

• Active inventory increased, with for-sale homes 33.4% above year-ago levels

For the 44th consecutive week dating to November 2023, the number of listings for sale has grown year over year, and this week continues a string of growth rates in the mid-30% range that started in April. This is a slight decrease from last week’s gain of 34.6%.

• New listings—a measure of sellers putting homes up for sale—ticked higher this week by 9.9% from one year ago

The recent easing of mortgage rates has encouraged many sellers to return to the market, with the year-over-year growth in new listings experiencing its largest increase in a month. What’s more, the rate was nearly double last week’s gain of 5.5%.

Here is a graph of the year-over-year change in inventory according to realtor.com. 

Inventory was up year-over-year for the 44th consecutive week.  

However, inventory is still historically low.

New listings remain below typical pre-pandemic levels.